Home > Looking For a Low Rate Personal Loan? Jacaranda Has the Details
Looking For a Low Rate Personal Loan? Jacaranda Has the Details
Can I get a low rate personal loan?
Are you looking for the perfect low rate personal loan? Do they really exist? At Jacaranda, we provide personal loans between $300 and $10,000 for a variety of different expenses. Our team work hard to deliver competitive interests rates and outstanding service. The best part is you can apply wherever you are and whenever you like. Jacaranda is proud to be Australia-wide, so whether you’re looking for a competitive rate on a personal loan in Brisbane or Darwin, Jacaranda could lend a hand.
There are also other options if you are looking for a low rate personal loan in Australia. So, keep reading to find out how to apply for a personal loan with a low interest rate.
What is a low rate personal loan?
Before we dive into the nitty-gritty of low rate personal loans, let’s talk about what they actually are! A low rate personal loan is basically just a personal loan with a low interest rate. At Jacaranda Finance we do not claim to provide low rate personal loans. But, never fear, our team endeavour to provide competitive rates on personal loans and the good news is we will always be upfront about our terms and conditions.
At Jacaranda, we don’t believe in nasty surprises. Any possible fees and charges will be clearly outlined in our agreement so you can rest easy knowing that what you see is what you get!
No Interest Loans Scheme
The No Interest Loans Scheme, or NILS, provides individuals and families who have a low income with access to safe, fair and affordable credit. If you’ve been googling ‘how to look for low interest rate personal loans’ or ‘what is a low interest rate for a personal loan’ then this may be of interest to you. NILS is available up to the value of $1,500 and can be used for the purchase of essential goods and services. The No Interest Loans Scheme sets up affordable repayments over a period of 12 to 18 months so that borrowers can repay their loan over a period of time that suits their individual financial circumstances.
How does NILS work?
It is important to keep in mind that NILS is not a payday loan or a bank loan, but it could work for you if you’re looking for a low rate personal loan. NILS works through a process called ‘circular community credit’. That means once a borrower has made a repayment the funds are then made available for another borrower in the community.
Who is eligible for NILS?
In order to qualify for a No Interest Loan, applicants must:
- Have a healthcare/pension card or earn less than $45,000 a year after tax ($60,000 for joint applicants or applicants with children);
- Reside in their current premises for more than 3 months;
- Show a willingness or capacity to repay the loan.
If you meet the criteria you could apply for the No Interest Loans Scheme today!
What can I use NILS for?
The No Interest Loans Scheme provides cash for the purchase of essential goods and services. NILS could assist you with the purchase of items such as:
- Household items like fridges, washing machines, stoves, dryers, freezers and furniture;
- Some medical and dental services;
- Education essentials such as computers and textbooks;
- Some other items as requested.
Unfortunately, NILS can not be used to cover:
- Cash shortages.
How do I apply for NILS?
Wondering how to submit an application with NILS? All you’ll need to do is:
- Enquire – Enquire about a loan here or call 13 NILS;
- Interview – You will need to bring the required documentation to an interview with your local NILS provider;
- Assessment – Your NILS application will be assessed;
- Outcome – You will be informed of the outcome of your loan application. If successful, your NILS provider will send over an agreement for you to review and sign.
Jacaranda is the trusted name in Aussie online lending. We’re changing the way you look at borrowing. The Jacaranda team is committed to making it simple and stress-free for Aussies to get the cash they need when they need it. We don’t mess around with long-winded paper forms or unnecessary questionnaires. The Jacaranda team will cut straight to the chase.
If you haven’t had much success with traditional lenders then you’ll be pleased to know that Jacaranda is different. We won’t judge you based solely on your past. Bad credit doesn’t have to stand in your way. The Jacaranda team will take a look at where you are with your finances now to determine whether or not a personal loan is an appropriate financial decision. We understand that mistakes happen and sometimes life gets a little stressful. Jacaranda Finance is here to save the day, you can scroll up and apply now in just a few short minutes.
Does Jacaranda offer low rate personal loans?
At Jacaranda, we can not guarantee a low rate personal loan. We can, however, provide competitive rates on personal loans. Our team will do their best to tailor your individual rate to your current financial situation. At Jacaranda, we are proud to be a responsible lender. That means our team complies with the rules and regulations set out in the Australian Code of Responsible Lending. We do not lend cash to borrowers who can not afford to make the repayments. Our team conduct thorough yet fair assessments on all loan applications to ensure borrowers receive a responsible outcome.
If you’ve been googling ‘low rate unsecured personal loans’, ‘low rate secured personal loans’ or ‘large personal loans with low interest rates’ we urge you to do your research before signing an agreement. There are a variety of online lenders on the market offering a range of different products. It is important to verify that the lender you are considering is responsible. Keep in mind that if something seems too good to be true it probably is!
What about bad credit?
Have you been searching the web for ‘personal loans for bad credit with low interest rates’ or ‘low credit rating personal loans’? Jacaranda Finance could provide you with a personal loan even if your credit score isn’t the best. Our team prefer to take a realistic approach to bad credit loan applications. We will assess where you are with your credit now, rather than focussing on the past. At Jacaranda, we understand that people and circumstances change. Our team will focus on how you are going to repay your loan. We don’t think you should be judged on a mistake you could have made up to 7 years ago. Although we can not guarantee approval for every single applicant, we can guarantee you a fair go!
Who can apply?
At Jacaranda, we are giving all Aussies a fair go at safe, reliable and easy personal loans. If you’d like to submit an application with Jacaranda Finance, you’ll need to meet a few simple criteria:
- All applicants must be over the age of 18;
- You must have received some type of regular income for the last 90 days into a bank account that is your own;
- Applicants must have an active mobile phone number and email address that we can contact you on;
- Internet banking must be set up.
If you can meet the criteria above you could scroll up right now and apply for a stress-free personal loan.
No paper forms!
While we can’t promise a low rate personal loan, we can promise no paperwork and you’ll always get a fair go! That’s right, when you apply with Jacaranda Finance we won’t ask you to fill out a single paper form. Our entire process is 100% online. That means you can submit an application wherever you are and whenever you like. All you’ll need is an internet connection. Our application form is mobile-friendly, so you could even apply using your smartphone. We will need you to submit a few important documents, here is what our team suggest you have handy:
- Personal details like your online banking & employment info;
- An active email address and mobile number;
- The reason you are applying for the loan;
- Your MyGov details (if you are receiving Centrelink payments);
- Employer contact details.
How do I apply?
Think Jacaranda could help you out with the personal loan you’ve been searching for? The good news is you could submit an application with us in just a few short minutes.
Here’s what you’ll need to do:
Scroll up and submit and use Jacaranda’s online loan calculator to select an amount and repayment period that suits you.
Fill out the form
Our team will need a few important details to properly assess your loan application. Our online application form could only take you a few minutes to complete – you could even fill it out using your smartphone. Jacaranda is built for Aussies on the go.
We assess your application
Our team will assess your application while you sit back and relax. If you have submitted your form during AEST business hours we’ll do our best to get back to you in just 60 minutes with an outcome.
Sign your agreement
If your loan application is successful our team will send over an agreement for you to review and sign. We encourage all borrowers to read through their agreement carefully. It is important to make yourself aware of any fees or charges that could incur for late or failed repayments. At Jacaranda, we will always make the terms of your agreement explicitly clear.
Get your cash
Once our team receive a signed copy of your agreement we’ll transfer the cash straight to you. Thanks to instant banking you could have the cash in your account and ready to use in just 60 seconds.*
5 ways to pay off your credit card faster
- Make payments on time: Always check your credit card statement to make yourself aware of the due date. Make sure you either pay on this date or before to avoid paying late fees or higher interest. This will also be beneficial for your credit score as it shows you’re reliable with repayments.
- Pay as much as you can each month: If you have extra money left over after paying expenses, it may be a good idea to pay off more of your credit card debt. If you pay the minimum you’ll typically pay a lot more interest and it will take a lot longer to pay off your debt in full.
- Cut back on your credit cards: If you have multiple credit cards you should try and reduce the number you have. Then make a goal to pay off your credit cards one at a time. You can start by either choosing the card with the highest interest rate or the smallest amount. Whatever option you choose it’s important to continue to:
- Keep making the minimum payments on all your cards
- Use only one card and try to keep it for emergencies
- Cancel each credit card once you pay it off.
- Reduce your credit limit: to avoid the temptation to overspend, contact your credit provider to reduce your credit limit. You can do this by phone, going online or visiting a branch.
- Get a better deal: If you’re going to use a credit card you should shop around to get the best possible deal for your situation.
Want to know more?
If you’d like to read more from the Jacaranda team you can head to our blog.
Want to know how to make your Centrelink income work for you?
Looking for a secured loan? Read Jacaranda’s guide to getting a car loan!
Should I get a wedding loan or credit card? Jacaranda investigates.
*Only available for NPP enabled bank accounts.